10 Facts about the $SPY Chart 4/5/15

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10 Facts about the $SPY Chart 4/5/15

10 Facts about the $SPY Chart 4/5/15

 

  1. The long term trend is still up.
  2. The short term trend is down with price under the 5 day ema & 10 day sma.
  3. $SPY is still under the 50 day sma and presents the danger of a deeper dip before another leg up.
  4. Momentum buy signals are failing as selling into strength continues.
  5. $SPY is on the wrong side of the RSI at a 48.04, the danger of a fall to the 30 RSI is still present.
  6. The MACD is still giving a bearish reading.
  7. The down days are trading on heavier volume than the up days.
  8. The next key support level is the 100 day then the 30 RSI are dip buying levels.
  9. This is currently a buy weakness and sell strength market.
  10. The index futures plunge after the payroll numbers Friday presents the possibility of a gap down open Monday.

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